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California Firm Closes Largest Private Funding Round In US Cannabis Industry

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California Firm Closes Largest Private Funding Round In US Cannabis Industry

Flow Kana has closed a $125-million funding round — the largest in the history of U.S. cannabis.

The sum boosts Flow Kana’s lifetime raise to $175 million and will drive both the expansion of California’s cannabis supply chain and the adoption of a sustainable agricultural model for decentralized small farms, the company said.

“Since our initial investment, Flow Kana has continued to execute on its mission of developing a robust and inclusive California cannabis supply chain,” said Michael Henderson-Cohen, a principal at Gotham Green Partners, which led the investment round.

“We are excited to participate in this recent raise, which will enable the company to leverage its unique position in the Emerald Triangle and broaden its reach and message across the state.”

Flow Kana supports sungrown, organically cultivated cannabis produced by small, independent, eco-friendly farms.

Why It’s Important

Flow Kana’s raise marked the largest private funding round for a U.S. cannabis company, testifying to the industry’s growth and expanding investor interest.

“We strongly believe the cannabis industry is a catalyst for social change and are grateful to have found investors and partners aligned with this vision,” Flow Kana CEO Michael Steinmetz said in a press release.

Flow Kana is continuing to grow its manufacturing operations in Mendocino County, where it fulfills processing and white-label services. It also plans to expand its portfolio to include topicals, tinctures and oil-based vapes.

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Photo courtesy of Flow Kana.

Posted-In: Californi Flow Kana marijuana Michael SteinmetzCannabis News Financing Markets Best of Benzinga

 

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